U.S markets climbed as investors shrugged off news from Greece. The left wing Syriza party won the elections and came to power. The party is strongly against the austerity program but shock in the market was short lived and traders believe that the result is unlikely to destabilize the European economy. At session close the S&P 500 was 0.26% higher at 2,057.09 and the Dow Jones was 0.03% higher at 17,678.7. Asian markets were mixed today. The Nikkei added 1.72% after the Dollar advanced strongly against the Yen throughout the day, climbing from 117.5 to 118.65. Traders also tracked U.S markets after fears regarding Greece subsided. The Hang Seng lost 0.41% and the Shanghai Composite lost 0.89% after industrial profits declined. European markets are lower today. The FTSE 100 is down 0.31% after the British GDP missed expectations. The CAC 40 is down 1.06% and the DAX is down 0.99%.
Crude Oil declined following the news that the Syriza party won the Greek elections. Today, the price dropped back down and the commodity is now trading choppy. Traders appear to be looking for direction and volatility is expected to remain high unless oil producing countries make an agreement. The API will release inventory data at 9.30 PM (GMT) and could spark short term movement. Gold declined as traders locked in profits following gains made after the Greek election. In addition, traders appeared to reinvest in riskier assets, ditching the metal for equities. Attention will now turn to Wednesday’s FOMC meeting as investors are eager to learn when the interest rate hike will occur.
Today’s Main Events:
09.30 GMT: GBP – GDP – measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy.
13.30 GMT: USD – Core Durable Goods Orders – measures the change in the total value of new orders for long lasting manufactured goods, excluding transportation items.
15.00 GMT: USD – CB Consumer Confidence – measures the level of consumer confidence in economic activity.
15.00 GMT: USD – New Home Sales – measures the annualized number of new single-family homes that were sold during the previous month.
January 27, 2015 – Daily Market News
Today’s Hot Asset: USD
U.S markets climbed as investors shrugged off news from Greece. The left wing Syriza party won the elections and came to power. The party is strongly against the austerity program but shock in the market was short lived and traders believe that the result is unlikely to destabilize the European economy. At session close the S&P 500 was 0.26% higher at 2,057.09 and the Dow Jones was 0.03% higher at 17,678.7. Asian markets were mixed today. The Nikkei added 1.72% after the Dollar advanced strongly against the Yen throughout the day, climbing from 117.5 to 118.65. Traders also tracked U.S markets after fears regarding Greece subsided. The Hang Seng lost 0.41% and the Shanghai Composite lost 0.89% after industrial profits declined. European markets are lower today. The FTSE 100 is down 0.31% after the British GDP missed expectations. The CAC 40 is down 1.06% and the DAX is down 0.99%.
Crude Oil declined following the news that the Syriza party won the Greek elections. Today, the price dropped back down and the commodity is now trading choppy. Traders appear to be looking for direction and volatility is expected to remain high unless oil producing countries make an agreement. The API will release inventory data at 9.30 PM (GMT) and could spark short term movement. Gold declined as traders locked in profits following gains made after the Greek election. In addition, traders appeared to reinvest in riskier assets, ditching the metal for equities. Attention will now turn to Wednesday’s FOMC meeting as investors are eager to learn when the interest rate hike will occur.
Today’s Main Events:
09.30 GMT: GBP – GDP – measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy.
13.30 GMT: USD – Core Durable Goods Orders – measures the change in the total value of new orders for long lasting manufactured goods, excluding transportation items.
15.00 GMT: USD – CB Consumer Confidence – measures the level of consumer confidence in economic activity.
15.00 GMT: USD – New Home Sales – measures the annualized number of new single-family homes that were sold during the previous month.
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